SentinelLABS warns that scammers using aged YouTube accounts, AI-generated tutorials, and malicious Ethereum smart contracts have been active since early 2024, siphoning funds with one video responsible for over $900K in losses.
Cybersecurity firm SentinelLABS has uncovered a sophisticated scam campaign active since early 2024 that targets crypto users through YouTube tutorials. Fraudsters deploy malicious Ethereum-based smart contracts—often via the Remix Solidity Compiler—to drain funds from victims’ wallets. While many videos are AI-generated, one lucrative video produced by a real person led to over $900K in losses. The report urges users to verify external code sources and exercise caution when engaging with trading bot tutorials.